Strategic Importance of Automation for GICs

Automation is one of the most important trends that is rapidly taking over enterprises across several industries. This trend has already started to impact many businesses across the globe including numerous GIC’s. While many are worried over losing jobs or relevance due to automation, it actually presents the opportunity for humans to scale up their roles to utilize creativity and intellect and make better use of the talent. We shall explore the relevance of automation which is arguably the most disruptive digital accelerator with respect to GIC’s

As the demand for automation has increased significantly all over the world, GICs need to adapt to this change as it offers them the chance to move from simply functioning as low-cost centers to becoming strategic partners to their parent organization. The industry has witnessed several ups and downs and to continue to stay relevant they are adapting to newer forms of technology. Automation and the digitization are creating a competitive edge for businesses along with IP creation, data security, setting up of R&D centers for innovative processes; continue to be the core of GICs.

Key aspects as to why GICs adapting automation and its impact

Increasing accuracy and 24×7 functioning: Robotic processes automation enables systems to switch from one environment to another effortlessly, validate data, and make algorithmic decisions just like humans. However, the key differentiator being it does all of this without breaking a sweat. No time offs, no errors and much faster, unlike humans.

Efficient talent pool: As the routine tasks are taken over by machines and bots, it can be observed that critical skills such as designing, leadership, innovation, etc. will require special human touch and engagement. Examining one’s potential to the fullest is one such impact that is seen. Automation is simply enabling employees to focus on higher-value tasks.

Rebrand, reinvent, and reimagine: Through automation, GICs now have an opportunity to redefine themselves from merely being known as cost-effective centers. While they shouldn’t lose their sight from key focus areas, in order to progress upwards they have to explore other avenues for growth. Contribution towards innovation, leveraging machine learning, Big Data, etc. they are surely going to continue to have their mark in the industry.

Therefore, adapting automation can help GICs continue to expand and become strategic allies of the parent company and emerge from solely playing a role of cost arbitrage.